With the rise of ChatGPT and generative AI, the future of work has changed rapidly for Australian and global employees, LinkedIn’s latest report has found.
After the rapid rise of GAI, 37% of Australian executives planned to upskill or hire for AI skills – and nearly half (48%) believed it AI could lead to more growth and revenue opportunities within the next 12 months, the report found.
“Over the past year, professionals globally have embraced AI skills with the technology set to reshape entire jobs, functions, and sectors,” LinkedIn’s managing director, Matt Tindale, says.
“As the technology’s impact continues to grow Australians should explore learning more about AI to boost their workplace efficiency. At the same time, employers are actively recruiting talent knowledgeable in AI technologies that can help them enhance productivity in their organisation.”
More than half (57%) of Australian executives agreed that using GAI would increase productivity, and similarly 54% said they planned to increase their use of AI at their organisation within the next 12 months.
Job postings that reference new AI technologies are also climbing rapidly, the report found, with the share of English-language job postings mentioning GPT or ChatGPT increasing 21x since November 2022. The fastest-growing skills related to AI added to LinkedIn profiles include: question and answering, classification, recommender systems, computer vision and natural language processing.
Globally, the generative AI market size was evaluated at US$10.79 billion in 2022, and is predicted to be worth US$118 billion by 2032, growing at a compound annual growth rate of 27.02% between 2023 and 2032, Precedence Research found.
According to Precedence, the demand for GAI is being driven by the use of technologies like higher resolution, text-to-image conversion, and text-to-vide conversion, as well as automation and remote monitoring.
These jobs are paying huge sums, too.
Netflix recently posted a position with an annual salary of up to US$900,000, and an LA-based data scientist job in the field of advertising ranges between US$390,000 and US$900,000.
In Australia, AI jobs could pay up to $300,000, the CEO and founder of Sapia.ai Barb Hyman told LinkedIn, though the exact salary would largely depend on which industry or company the role is in.
But interestingly, the report also found that nearly three-quarters (74%) of Australian executives believe that soft skills still hold greater value than AI skills. And 94% of executives believe that soft skills are more important than ever.
“This underscores that AI cannot replace qualities like creativity and emotional intelligence,” Tindale says. “For individuals aiming to remain relevant in the job market, it’s important to consider enhancing soft skills and ensuring the ability to complement new AI technology with human insight.”